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I didn't agree, but you called it!
The gap to be filled occurred on Mar 9 - Mar 10 and was a gap up from .0282 to .0314. It is a small gap and is filling as we speak. Funny how this is happening now at the end of the month. If there is no RS tomorrow or Monday, what do you think that will do to the PPS? Up or Down?
Agree. No RS until after they can pump it up with some positive news. That is what all companies do before an RS.
Cool! You were just messing!
Do it fool!
Wow! They are trying very hard to scare people in to selling. That is the ONLY way they can cover the naked short bets! All if this volume is just MMs trading on fake bids/asks. Munro is afraid to piss the lenders off, but will once he has leverage in the form of a big asset sale. They know that and are scared shtless.
For sure. Soon Shotzky will chime in with the RS is mandatory to allow enough shares for loan agreements. I AM NOT disputing that, but suggesting that any delay with the RS combined with positive debt news will cause a short squeeze. The naked shorts have borrowed shares they cannot produce and are banking on the RS to happen sooner rather than later. I believe a lot has to be settled at the end of the month and without an RS the shorts will be left "holding the bag"!
Shorts desperately need RS to happen now to free up shares so that they can cover. Any good news will cause a massive short squeeze before the RS.
I know you keep defending the RS as a mandatory step and how it is really a good thing. This is nonsense. Let's suppose they do the 1:4 and then have another 375M available for the debt conversions. Great, right? No, not right. That 375M only allows them to pay off $15M in debt and most likely half of that since the PPS will drop as they dilute. Also, now the shareholders will only have 25% of the shares they have now. So, this is not an optimal solution for the company, or the shareholders. The better solution is for Munro to payoff the senior convertible debt without needing to convert shares and using the shareholders as an ATM. I am hopeful the next asset sale will do just that and hopefully stave of or postpone the RS.
Still thinking Munro is gonna stall and not do the RS in the timeframe many of the naked shorts are banking on... Sorry if you are short!
No need to do RS now since they currently have at least 2M shares remaining on the 500M AS and they meet the reserve requirement on the $550K loan. I think Munro will flip the script this time! GLTA
From the 8K -
The Company has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of the shares underlying the Exchange Notes at least equal to 100% of the Required Minimum on the date hereof. “Required Minimum” means, as of any date, at least million (2,000,000) shares of Common Stock; provided, however, after a reverse split by the Company to be
effected on or around March 31, 2017, such amount shall be equal to fifty million (50,000,000) shares of Common Stock.
To me this means they are in compliance without needing to do an RS since they currently have at least 2M shares remaining on the 500M. They are at 488M outstanding now. So I think the RS may not be done as soon as many of the naked shorts are hoping and wishing.
I think Munro will flip the script this time! GLTA
They actually are doing the RS so that they can issue more shares. That my friend is dilution.
Its not the RS that is bad, its the 375M share dilution that it will enable. I realize they need to do this to meet the reserve share requirements for the convertible debt; however, it would be beneficial to the shareholders if they do the RS in conjunction with positive news to reduce or eliminate the near term downward pressure on the PPS. Knowing that once the RS is enacted, subsequent dilution will put downward pressure on the stock. So, there is no disagreement that the RS is needed, just saying the timing could be done in a way to be more or less beneficial to the shareholders.
I agree it needs to be timed well. Hopefully, they understand that!
Unfortunately, 9 out of 10 times a RS creates a shorting opportunity and the stock will drop post RS in the near term. That is why I can't see Munro using that option at this time with the market cap already in the crapper. I think he needs to get the cap up to 50 - 60M (.10 - .12) before enacting the RS. By the way things are going he wont be anywhere near that on Friday. Therefore, I think the RS happens more like the April - June timeframe.
They are different aliases for sure, but are directed by the same source. Hence, the same narrative from each. They also seem to post in concert.
Just set it and forget it for now.
Q1 ER not until early May historically. A lot can happen from now until then. Today's prices will seem like a steal by then IMO.
Upcoming catalysts will be debt reduction news in conjunction with asset sale. Then look for RS announcement as it gets closer to the Q1 ER. IMO
Did you buy yet? I think you did.
No volume = no sellers. Why would anyone sell now! Of course they wouldn't LOL!
This is normal consolidation after the run from .01 - .09. Getting ready for the next leg up.
.10 - .20 post split is realistic. I think we get to .05 - .06 pre-split.
Now that is a good common sense post. Nice!
That's a nice stash of shares. You'll still have 1/2 mil even after the RS. Nice!
Looks to me like today was all about 35M shares moving from weak hands to strong hands. Nothing more than that.
Munro is graded based on the market cap of his company. By any and all measures of a stock he has failed over the last 3 years. Not sure why he is pulling such a big salary.
Seems like Munro is not actively involved in the communication of financial strategy. He may be having personal issues and is leaving too much up to his delegates. Shame if that is true.
I agree they have time before doing RS..after a reverse split by the Company to be effected on or around March 31, 2017 That could mean April or May.
Most agree the 1:4 RS is inevitable. The question is when? This week, next week, next month. I still think they will run it up before the RS is enacted.
It is short sighted to think it won't go higher than .10.
The gap is at 025 not .003. Your post says gap @ .003 which is WRONG!
You data does not show a gap at .003. Try again!
Can you prove there was a gap at .003?
which explains why you want "a gap" to fill. You better buy now if you want to get in low!
There is no gap at .003! How is that even possible when the lowest the stock was in the last 52 weeks was .01??? So much crap posted here it's unreal.
ICLD is still up over 200% from the low on 2/28. The trend is up. Remember, money flows from the impatient to the patient.
Seriously! Makes no sense to enact an RS to get the PPS to .12. They need to find another way to pay off the remaining convertibles.
Potentially, it was a mistake in the 8K. Seems like 2M shares reserve should have been divided by 4 for a post split reserve of 500K shares. Just my guess since there is no f-ing way they need to reserve 50M shares to cover a 550K loan. Something is askew there.